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Satoshi&Co Daily Crypto Newsletter #52

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As Bitcoin and other cryptos seemingly plunging towards new bearish lows for 2018, we wanted to take
 

Satoshi&Co Daily Crypto Newsletter

November 19 · Issue #71 · View online
ZPX | Satoshi&Co Newsletters

As Bitcoin and other cryptos seemingly plunging towards new bearish lows for 2018, we wanted to take a look at how some of the larger ICOs (in terms of raise and expectations)  have fared since their launch. Unsurprisingly, all the ICO tokens have underperformed BTC, with Tezos recording -11% vs BTC (the best) and COSMA, which raised $95mm the worst performer at -90% vs BTC. Barring Tezos’ anomalous return of 168% vs. ETH, the range of returns relative to ETH ranges from modest outperformance (37%) to significant underperformance (-86%). If an ICO-only investor had invested in the top 10 projects below on an equal-weighted basis during the public sale, his portfolio return in dollar terms would have been -48%.  

Data as of Nov 19th 7 PM SGT
Data as of Nov 19th 7 PM SGT
Data as of Nov 19th 7 PM SGT
Data as of Nov 19th 7 PM SGT
Meanwhile in Crypto Wonderland....
“CZ Interview with The Street”
In an interview with The Street, Binance CEO Zhao (CZ) touched on a number of subjects, from Binance’s infant months to the project’s agenda, and, most interestingly, to the CEO’s personal views on institutional interest in this industry. The Binance CEO also explained that Fidelity Investments, a Boston-based investment giant, manages $2 trillion in assets, which is more than 10 times the current aggregate value of all cryptocurrencies.
“Canadian Committee Recommends More Regulation”
A House finance committee has recommended that the government start regulating cryptocurrencies to prevent money laundering. According to the report by iPolitics, the committee suggested that cryptocurrency-related regulations, especially exchanges which enable fiat to crypto conversion, should be introduced during the review of the Proceeds of Crime Money Laundering and Terrorist Financing Act (PCMLTFA), which occurs once every five years.
“Silver Castle Launches 2 New Funds”
Silver Castle Ltd., Israel’s first dedicated cryptocurrency investment firm for institutional and accredited investors, launched two funds this month and expects to have $50 million under management by the end of the year. The company’s lineup includes Zvi Ziv, former chief executive officer of Bank Hapoalim Ltd., Israel’s largest bank by assets; and Gabriella Ravid, founder and former CEO of Psagot Ofek Investment House, the country’s largest investment fund.
“NYDIG Execution Gets BitLicense”
The New York Department of Financial Services (NYDFS) has issued a BitLicense to NYDIG Execution, a subsidiary of New York Digital Investment Group (NYDIG). The regulator revealed that the crypto custodian had been granted a virtual currency license and a money transmission license. The permission given by the regulator allows NYDIG to offer crypto custody and trade execution services.
“Deloitte: Crypto Markets Scaring Clients”
According to Linda Pawczuk, leader of Deloitte Consulting’s financial services industry blockchain group, clients have been concerned about blockchain technology due to the “wilder” side of the technology and asking about the wilder side of blockchain they’ve read about in the news: the ICOs that have incurred the wrath of the SEC, for example, or the illicit uses of bitcoin and other cryptocurrencies.
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Crypto Twitter Pick
Joseph Young
Those that were shouting crypto investors were so lucky in 2014, are starting to figure out they weren't all that lucky.

To invest in crypto in 2014 or even now, it requires absolute confidence in the long-term trend of the market, the technology, and potential of crypto.
What We Are Reading / Listening To
Thin Protocols by Teemu Paivinen
Overnight Performance of Top 10 Currencies
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